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Press 31 March 2022

Record Profits for WAGO –
with over 1 Billion Euros in Sales

Minden, Germany, 2022-03-31 The WAGO Group achieved new record profits in 2021, closing the year with €1.19 billion in sales.

“25 percent sales growth in the second year of the COVID crisis, with all the attendant challenges – that’s remarkable result, which were not expecting when the year started,” emphasizes Chief Financial Officer Axel Börner. “We were able to achieve double-digit growth rates at our sites worldwide,” adds Jürgen Schäfer, Chief Sales Officer at WAGO, a supplier of connection and automation technology. The distribution of WAGO’s sales among the national markets remained almost unchanged from the previous year. While Germany, with a revenue share of around 27 percent, has traditionally been the most important market for WAGO, the rest of Europe reached 44 percent, while RoW (Rest of World) is at nearly 29 percent.

  • 25 percent sales growth to 1.19 billion euros

  • 350 positions to be filled in 2022

  • Major construction projects at both German sites

“Prudent planning and inventory reserves have allowed us to meet supply chain challenges. Together with the very good order situation, these factors contributed significantly to this growth – which definitely would’ve been significantly higher had the situation been less strained where materials are concerned,” says Axel Börner with confidence. “But above all, we achieved one billion euros in sales thanks to our workforce’s incredible dedication.”

Thanks to future-proof IT infrastructure, large parts of the WAGO workforce were able to switch to mobile work during the pandemic. “This was a successful model, and we are definitely going to continue with it,” explains CEO Dr. Heiner Lang. Against the backdrop of a shortage of skilled workers and the company’s high staffing needs – around 350 positions have to be filled in 2022 alone – this also offers new opportunities in the recruitment of new employees. “We’re expanding our search radius and can now target applicants from all over Germany and offer tailored work models” says Dr. Heiner Lang. With around 8,600 employees, about 4,000 of whom work in Germany, the workforce has grown slightly. As of the reporting date 2021-12-31, 232 trainees and dual-studies students were employed in Minden and 41 in Sondershausen.

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Investments of 70 Million Euros – Record Investment of 150 Million Euros Planned

The WAGO Group is international, but continues to focus its investments on its German headquarters in Minden, Westphalia and its production and logistics center in Sondershausen, Thuringia. A total of 70 million euros was invested in 2021, and a record sum of over 150 million euros is planned for 2022.

Promoting young talent plays an important role. A new training center is being built in Minden for about six million euros and is scheduled for completion in June of this year. This will give technical and commercial trainees and dual-studies students a shared learning and living environment with a total area of 3,500 m². The accessible facilities will include three laboratories, a dedicated cafeteria and media library, an IT training room and eight meeting rooms. The injection molding and toolmaking departments are also being expanded at the company’s headquarters.

The largest investment project for the coming years is the construction of a new logistics center in Sondershausen, Thuringia. WAGO is investing 40 million euros in a modern high-bay warehouse – signaling a clear commitment to this site. Construction is scheduled to begin in the fall of 2022, with commissioning to follow about two years later. A modern high-bay warehouse with the latest technology, a highly automated picking and storage area and office space for the site are being built on an area of 11,000 m². “The focus of the new building is greater digitization and automation of logistics – for sustainable, future-proof development of the site too,” says Axel Börner. In addition, energy efficiency and resource conservation play an important role. Sustainable construction and insulation materials and an efficient energy supply have been integrated into the planning. “Sustainability is central to all our construction projects,” explains Axel Börner. “These are targeted investments with the goal not just of meeting the challenges of the energy transition, but also of making a contribution to decarbonization.”

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Forecast from the New CEO, Dr. Heiner Lang

“Another contributor to our success throughout the past year was our consistent customer focus, which remains our top priority. Our products have a large community of fans; we want to involve them more closely in development through co-creation approaches and do an even better job of meeting their requirements through new digital products and services,” says Dr. Heiner Lang, summing up the past year. He also states his position on the current situation: “We are closely following the situation in Ukraine; we are shocked and deeply concerned about the safety of everyone living there. We condemn these belligerent acts and are following the sanctions and measures imposed by the German Federal Government and the European Union. The ongoing conflict is currently having little impact on our supply chain, but we’re experiencing significant cost increases for raw materials, energy and transportation as a result.”

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